FRG Family Wealth Advisors LLC Has $14.97 Million Position in The Boeing Company $BA

Key Points

• FRG Family Wealth Advisors LLC reduced its Boeing holdings by 7.2% in Q1, making Boeing its 9th largest position in the portfolio with a value of approximately $14.97 million.
• Institutional investors, including Vanguard Group and UBS Asset Management, have increased their stakes in Boeing, with Vanguard owning over 65.6 million shares valued at $11.2 billion.
• Analyst ratings for Boeing include a consensus of "Moderate Buy" with an average price target of $228.90, reflecting a range of ratings from strong buy to sell.

FRG Family Wealth Advisors LLC cut its stake in shares of The Boeing Company (NYSE:BA - Free Report) by 7.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,747 shares of the aircraft producer's stock after selling 6,758 shares during the period. Boeing comprises about 2.9% of FRG Family Wealth Advisors LLC's investment portfolio, making the stock its 9th biggest position. FRG Family Wealth Advisors LLC's holdings in Boeing were worth $14,965,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Castlekeep Investment Advisors LLC bought a new stake in Boeing during the fourth quarter valued at about $568,000. Alyeska Investment Group L.P. bought a new stake in Boeing during the fourth quarter valued at about $526,889,000. Zimmer Partners LP bought a new stake in Boeing during the fourth quarter valued at about $393,736,000. Sculptor Capital LP bought a new stake in Boeing during the fourth quarter valued at about $265,500,000. Finally, Vanguard Group Inc. raised its holdings in Boeing by 1.9% during the first quarter. Vanguard Group Inc. now owns 65,655,044 shares of the aircraft producer's stock valued at $11,197,468,000 after acquiring an additional 1,212,327 shares during the period. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on BA shares. Jefferies Financial Group raised their price target on Boeing from $230.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the company a "buy" rating in a report on Thursday, June 12th. Barclays lifted their target price on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price on the stock in a report on Friday, June 27th. Finally, KGI Securities raised Boeing from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $228.90.

Insider Buying and Selling

In other Boeing news, Director Mortimer J. Buckley acquired 2,200 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the completion of the purchase, the director directly owned 2,200 shares in the company, valued at $497,420. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the completion of the sale, the executive vice president directly owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This trade represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Boeing Trading Up 1.1%

BA traded up $2.55 on Tuesday, hitting $237.23. The company had a trading volume of 6,331,206 shares, compared to its average volume of 5,634,349. The Boeing Company has a 12-month low of $128.88 and a 12-month high of $242.69. The business's fifty day simple moving average is $225.29 and its 200 day simple moving average is $196.53.

Boeing (NYSE:BA - Get Free Report) last announced its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analyst estimates of $20.13 billion. During the same period in the previous year, the business earned ($2.90) EPS. Boeing's revenue for the quarter was up 34.9% on a year-over-year basis. As a group, research analysts forecast that The Boeing Company will post -2.58 EPS for the current year.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.